Exclusive Content

A source at Hudson's Bay tells us the company will open Canada-wide outlet stores, not unlike Nordstrom Rack. These will operate as clearance centres for Hudson's Bay merchandise. The first store will open in the Greater Toronto Area, to be followed by other Canadian locations. We are awaiting information on tentative opening dates and locations. Hudson's Bay is renowned for its sales and we question if Hudson's Bay will continue this in-store trend or if it will move sale merchandise to its outlet stores, not unlike Nordstrom with its Nordstrom Rack stores. It is uncertain, however, if Hudson's Bay outlets would include merchandise purchased specifically for the outlet like Nordstrom Rack. These Hudson's Bay Outlet locations could be carved out of existing Hudson's Bay stores and could possibly even replace smaller, less productive Bay locations. Former Zellers stores not taken by Target or Walmart could be utilized. This is just speculation for now. Hudson's Bay is eventually looking to close lesser-productive store locations and clearance outlets may be a way to optimize currently under-performing store real estate. Nordstrom Rack is also actively searching for Canadian retail space for as many as 20 or more stores, according to Nordstrom spokesperson Colin Johnson. Executives at RioCan Real Estate Investment Trust, owners of several outlet malls, confirm Nordstrom Rack's current search for locations. We can expect Nordstrom Rack store announcements in the near future according to our Nordstrom Insider in Seattle. We'll continue to keep you updated on Hudson's Bay Outlet news. Hudson's Bay website: www.TheBay.com